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Exporting economic crises
Economic 2024/08/12
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Anyone who follows global economic trends will notice, from time to time, a financial crisis occurring here and there.
These crises lead to transitional economic crises that are clearly visible in some countries and hidden in others, and the effects differ here and there depending on the fragility of the economy of the countries in which the crisis appears in terms of clarity and the strength of the economy of other countries in which its effects are hidden. Perhaps money is the root of the problem, as its interactions crystallize to be reflected in the economy. I only refer for the purposes of analysis and clarification to the mechanism of financial crises in major capitalist centers and then their transition to global economic crises, as I previously mentioned in the previous article entitled: Paths of the Global Economy the term (monetary chaos) and I meant by that the significant role of this chaos in the occurrence of clear crises, as fragile economies suffer from continuous economic crises and at the very least during the economic cycle which is known as follows (they are fluctuations that occur in economic activity, moving from a state of recovery and growth to a state of recession and depression, where growth declines and unemployment increases, then the cycle continues until recovery is achieved again). Economic experts attribute the causes of economic crises to crises exported from advanced economies (from abroad) to developing economies. They are a product of globalization, which has opened borders wide open through international agreements binding on countries. The arms of globalization, especially the International Monetary Fund, the World Bank, the World Trade Organization, and the United States Agency for International Development, have helped deepen them by imposing their strict, binding conditions, whether in the field of financing, granting loans, or the aid that countries need, and the necessity of applying them to the policies of those countries in a way that achieves a high degree of economic liberalism. Here, the picture becomes clear regarding the export of crises that dominate the financial markets, as money is the basis.
The meaning and concept of deportation, in a simple definition, is the deportation of economic crises internally by countries receiving funding and aid, so the solutions are patchwork, which is why crises continue in some countries. The monetary chaos left behind by the world's decision to abandon the gold standard as a standard for evaluating currencies in 1971 and the liberalization of exchange systems and the liberalization of capital movements is behind the occurrence of economic and financial crises without radical solutions. Thus, money is the basis of economic affliction, especially in countries that do not manage it well. It is natural that monetary chaos causes fluctuations in exchange rates and differences between the official price and the parallel price, which is a prominent phenomenon in emerging and weak economies. Examples include, but are not limited to, the Turkish, Iranian, Egyptian, Iraqi economies and many others, along with other reasons, of course, which are the reason for the occurrence of financial crises. Crises are a phenomenon exported from abroad, and their deportation occurs in solutions that are faced from within, which causes continuous financial crises in countries that are being deported to solve their crises, and this is what we must pay attention to. Hence, my choice of the title of the article: Financial Crises between Export and Deportation.
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